MCCORMICK & CO INC
For the period ended Nov 30, 2023. Filed Jan 25, 2024.
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FY2023 · Filed Jan 25, 2024
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Item 4. MINE SAFETY DISCLOSURES
Not Applicable.
PART II.
Our Common Stock and Common Stock Non-Voting are listed and traded on the New York Stock Exchange (NYSE). Our Common Stock and Common Stock Non-Voting trade under the ticker symbols MKC.V and MKC, respectively. We have disclosed in note 17 of the accompanying financial statements the information relating to the dividends declared and paid on our classes of common stock. The market price of our common stock at the close of business on December 29, 2023 was $68.00 per share for the Common Stock and $68.42 per share for the Common Stock Non-Voting.
The approximate number of holders of our common stock based on record ownership as of December 29, 2023 was as follows:
| Title of class | Approximate number of record holders |
|---|---|
| Common Stock, par value $0.01 per share | 2,100 |
| Common Stock Non-Voting, par value $0.01 per share | 9,000 |
The following table summarizes our purchases of Common Stock (CS) and Common Stock Non-Voting (CSNV) during the fourth quarter of 2023:
ISSUER PURCHASES OF EQUITY SECURITIES
| Period | Total number of shares purchased | Average price paid per share | Total number of shares purchased as part of publicly announced plans or programs | Approximate dollar value of shares that may yet be purchased under the plans or programs |
|---|---|---|---|---|
| September 1, 2023 toSeptember 30, 2023 | CS - 0CSNV - 0 | - - | - - | $511 million |
| October 1, 2023 toOctober 31, 2023 | CS - 130,254CSNV - 0 | $61.48 - | 130,254 - | $502 million |
| November 1, 2023 toNovember 30, 2023 | CS - 15,435CSNV - 0 | $64.50 - | 15,435 - | $501 million |
| Total | CS - 145,689CSNV - 0 | $61.80 - | 145,689 - | $501 million |
As of November 30, 2023, approximately $501 million remained of a $600 million share repurchase authorization approved by the Board of Directors in November 2019. The timing and amount of any shares repurchased is determined by our management based on its evaluation of market conditions and other factors.
In certain circumstances, we issue shares of CS in exchange for shares of CSNV, or issue shares of CSNV in exchange for shares of CS, in either case pursuant to the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended. Typically, these exchanges are made in connection with the administration of our employee benefit plans, executive compensation programs and dividend reinvestment/direct purchase plans. The number of shares issued in an exchange is generally equal to the number of shares received in the exchange, although the number may differ slightly to the extent necessary to comply with the requirements of the Employee Retirement Income Security Act of 1974. During fiscal 2023, we issued 671,229 shares of CSNV in exchange for shares of CS and issued 11,160 shares of CS in exchange for shares of CSNV.
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